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Social Science Clinic => Accounting => Topic started by: mydiamond on Jul 6, 2018

Title: Expenses are recorded when a. cash is paid for services rendered b. a bill is received in advance ...
Post by: mydiamond on Jul 6, 2018

Expenses are recorded when
 a. cash is paid for services rendered
  b. a bill is received in advance of services rendered
  c. assets are used in the process of earning revenue
  d. assets are purchased

Question 2

The General Fund is partially funding the construction of a new police station. 80 of the project is being financed; the General Funds' share of the project is 1,000,000 . The Capital Project Fund would report the General funds' share as a
 
  A. 1,000,000 other financing source.
  B. 1,000,000 revenue.
  C. 1,000,000 nonoperating revenue.
  D. 1,000,000 other financing use.

Title: Expenses are recorded when a. cash is paid for services rendered b. a bill is received in advance ...
Post by: tofugiraffe on Jul 6, 2018

Answer to Question 1

c

Answer to Question 2

A